Mapex Bigger Than Ever

A Whopping RM992mil worth of properties will be on sale during Mapex 2012.
To be held from June 22 to 24, the exposition is organised by Ipoh City Council (DBI), Perak State Development Corporation (PKNP) and Perak Real Estates and Housing Developers Association (REHDA).

REHDA Perak chairman Dato’ Francis Lee said the properties to be on sale during the three day event are single storey terrace, single storey semi-detached and bungalow, double/three storey terrace, double/three storey semi detached and bungalow, single/double/three/four storey shop office and apartment/condominium. “Various incentives will be given during the exposition including free legal fees for the Sale and Purchase Agreement and cash rebates,” he told Ipoh Echo.

The exposition this year, added Lee, will play a greater role including the promotion of the initiatives of both the Federal and State Government by way of ‘My First Home Scheme’, PR1MA housing and the “Satu Keluarga Satu Rumah”.
“In view of the laggard pricing of Perak properties and the present low interest regime, prospective purchasers should seize this opportunity to purchase a property of their choice,” said Lee.

Lee noted most financial institutions are currently offering end financing at 2.5% above the Base Lending Rate (BLR) of 6.6%, thereby translating as an effective lending rate of 9.1% on a reducing balance basis.

“For the purchase of a residential property valued at RM140,000 on a 100% end financing on tenure of 25 years, the monthly repayment is only RM751” said Lee.

“For a purchase of a RM280,000 residential property on similar terms, the monthly mortgage payment is RM1,502” added Lee. If the prospective purchasers have some savings and utilise their Employment Provident Fund for housing, the monthly repayment can be reduced by some 25%, he added.

The exposition will be held at Stadium Indera Mulia, Ipoh from 11am to 10pm. Held on an annual basis since 2003, it is one of the major activities of DBI anniversary celebrations. To date, some RM500mil worth of properties had been cumulatively sold during the exposition period.